Hammerson Confirms Talks On Possible Disposal Of Silverburn - Quick Facts

Responding to recent press speculation, British Real estate investment trust Hammerson PLC (HMSO.L) Monday confirmed that it is in discussions on terms of a possible disposal of Silverburn, its flagship destination near Glasgow.

Hammerson added that the pricing under discussion is 140 million pounds, which would represent a class 2 transaction. Meanwhile, there can be no certainty that a transaction will take place, it said.

Silverburn is held in a 50/50 JV with CPPIB.

The company noted that disposals of non-core assets remains a near-term priority to continue to strengthen the balance sheet, re-balance the portfolio and to enable the company to re-cycle capital for investment.

The company will provide a further update in due course, if appropriate.

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